Rail

Las Vegas Monorail insurer appealing decision

LAS VEGAS — The Las Vegas Monorail's bond insurer is appealing an April 26 bankruptcy court ruling that found the monorail is not a government agency, according to the Las Vegas Sun. Ambac Assurance Corp. of Wisconsin and Wells Fargo Bank had argued that the monorail should not be allowed to proceed under Chapter 11, arguing that a filing under Chapter 9 reserved for government agencies was more appropriate. For the full story, click here.

This contract includes high voltage cabling from the state grid for the new 16-mile metro line. Alstom is the main supplier of Kochi metro after it has been awarded previous orders for 25 Metropolis trainsets, signalling, telecom and electrification. Commercial service is scheduled to begin in March 2016.

The contract, which is for a ten-year period with the option to extend another 5 years, covers maintenance and spare parts on 74 four-car Class 357 ELECTROSTAR trains and is valued at approximately $213 million.

The train wreck, which occurred in the early morning of March 24, 2014, when the operator allegedly fell asleep, injured more than 30 people and caused roughly $9 million in damage. The lead railcar had to be cut up to remove it from the escalator.